"_Wealth is created by learning curves that result from millions of falsifiable experiments in entrepreneurship..._"
Its says noting about the quality of this experiments. Some may really create new value but some only redistribute value. Even with gold its may be more safe to invest in old dept than in new technology. Or in extracting gold as Jed said. I think this only is a new version of the old mantra "the government must do as little as possible". Yes central banks can screw tings up but they can also assuage things then the market screw things up. On Wed, 5 Aug 2015 20:53:52 +0000, Chris Zell wrote: FDR was nearly the victim of a fascist coup that is usually left out of history textbooks. And we do have nasty inflation in services, which is often overlooked in gov. stats. (NPR). Wages have suffered relative deflation as minimum wage will not pay for rent ( properly) in any of the 50 states. I understand that this may extend to all counties now. I am tempted by the viewpoint that society is like a 3 year old child just before bedtime. There is much commotion and resistance and yelling - and then sudden capitulation. We are seeing and hearing all sorts of craziness in resisting changes that our world must make. I believe that the Soviet Union and Fascist Spain ended because their leaders lost all faith in the system - followed by sudden change. In this, perhaps there is hope.